DOJ drops Homestore inquiry

The U.S. Department of Justice has dropped its inquiry into Homestore.com's business practices without taking any enforcement action, the online real estate company said Monday. The department notified Westlake Village, Calif.-based Homestore last week of its decision to conclude the inquiry. The department opened the inquiry last year while gathering information on the online real estate business. The department expanded the inquiry to include a review of Homestore's acquisition of Move.com from Cendant but decided not to block the merger.

3 January 200212:43 am GMT

The U.S. Department of Justice has dropped its inquiry into Homestore.com's business practices without taking any enforcement action, the online real estate company said Monday. The department notified Westlake Village, Calif.-based Homestore last week of its decision to conclude the inquiry. The department opened the inquiry last year while gathering information on the online real estate business. The department expanded the inquiry to include a review of Homestore's acquisition of Move.com from Cendant but decided not to block the merger.